Collection Officer Logbook Product at Phoenix Capital

About the Role

A dynamic team is expanding and seeking a skilled Collection Officer to join our organization. In this role, you will be responsible for portfolio management, timely collections from clients, and the acquisition of new and repeat business.

Key Responsibilities

Loan Collection and Recovery

• Monitor loan repayments and ensure timely collection from both new and existing clients
• Conduct follow-ups through phone calls, visits, and written communication for overdue accounts
• Negotiate repayment plans with delinquent clients in line with company policy
• Recommend appropriate recovery actions, including repossession or legal measures, for defaulted accounts
• Maintain accurate and up-to-date records of collection activities

Portfolio Monitoring and Risk Management

• Track loan performance and identify potential defaults early
• Analyze delinquency trends and provide periodic reports on portfolio health
• Collaborate with the credit team to improve credit assessment and reduce default risks
• Conduct due diligence and verification visits for clients when necessary

Client Relationship Management

• Provide excellent customer service and maintain strong relationships to encourage prompt repayment
• Handle client concerns regarding repayments and provide guidance on restructuring where applicable
• Support client retention efforts through consistent communication and problem-solving

Reporting and Documentation

• Prepare daily, weekly, and monthly collection reports
• Maintain proper filing and record-keeping of all collection documents, repossession records, and payment plans
• Update the loan management system regularly with repayment and follow-up information

Asset and Repossession Management

• Coordinate repossession and disposal of collateral for defaulted loans in accordance with company policy
• Manage the sale of recovered assets to maximize recovery value
• Oversee maintenance and repair of repossessed assets